Perspectives On Hydraulic Fracturing In Canadian Shale Gas Plays (a Business Case For Effective Corporate Sustainability Strategy)

Abstract

In recent times, the challenging issues of climate change and global warming have increased the environmental consciousness of governments, firms, industry, non-governmental groups and the general public on a global scale (Banerjee S.B., 2001). Governments and industry are exploring innovative ways to address the increasing pressure while responding to the rapid increase in the demand for energy and economic growth. “Governmental monitoring and control of environmental impacts of business activity is a process that is designed to minimize the negative consequences of environmental damage” (Banerjee S.B., 2001). Corporate strategy can be used as a brilliant tool in bridging the widening gap between environmental pressures and the vision of an organization. This blending of vision with an environmental lens is a highly complex task. “Understanding managerial perceptions of environmental issues provides an effective framework for strategic bridging” (Westley & Vredenburg, 1991). This will also aid in promoting collaboration between businesses and environmental or governmental agencies. This research highlights the highly controversial energy issue of hydraulic fracturing in Canadian shale gas plays as a case study for effective corporate sustainability strategy. Corporate Strategy can be referred to as the brain child behind corporate success. It works more like the manual that accompanies an equipment or appliance, or the technique required to achieve a goal. It is not about doing everything; it is about prioritizing effective responses to societal concerns in daily operations. It is about doing the most important and most effective things at the right time. It is more than the glossy pages of sustainability reports and great websites.